Why Do Sovereign Citizens Say They Are Traveling, Articles T

Transocean has received a consensus rating of Buy. Transocean Ltd. Cash Flow per share ($/share) calculates the amount of incoming cash vs. the amount of outgoing cash for a company. Value Style - Learn more about the Value Style. Transocean (RIG) Reports Q4 Loss, Lags Revenue Estimates, Transocean (RIG) Expands Its Backlog to $8.5 billion, Transocean (RIG) Bets on GSR for Deep-Sea Mineral Exploration. Aside from using absolute numbers, however, you can also find value by comparing the P/E ratio to its relevant industry and its peers. What other stocks do shareholders of Transocean own? Sign in to your free account to enjoy all that MarketBeat has to offer. 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Transocean in the last year. Transocean was founded in 1926 and is based in Steinhausen, Switzerland. de C.V., TILAM Holdings Limited, TRM Holdings Limited, TSSA - Servicos de Apoio Lda., Transocean Africa Drilling Limited, Transocean Asia Services Sdn Bhd, Transocean Asset Holdings 1 Limited, Transocean Asset Holdings 2 Limited, Transocean Asset Holdings 3 Limited, Transocean Atlas Limited, Transocean Barents ASA, Transocean Brasil Ltda., Transocean Britannia Limited, Transocean Canada Drilling Services Ltd., Transocean Conqueror Limited, Transocean Conqueror Opco LLC, Transocean Corporate Services Limited, Transocean Cyprus Capital Management Public Limited, Transocean Cyprus Drilling Operations Public Limited, Transocean Deepwater Drilling Services Limited, Transocean Deepwater Holdings Limited, Transocean Deepwater Inc., Transocean Deepwater Mauritius, Transocean Deepwater Nautilus Limited, Transocean Deepwater Seafarer Services Limited, Transocean Discoverer 534 LLC, Transocean Drilling Enterprises S.a.r.l., Transocean Drilling Israel Ltd., Transocean Drilling Limited, Transocean Drilling Namibia Inc., Transocean Drilling Offshore S.a.r.l., Transocean Drilling Sdn. The (F1) EPS Estimate Quarterly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 12 weeks. Transocean Ltd. (NYSE: RIG) and Ocean Rig UDW Inc. ("Ocean Rig") (NASDAQ: ORIG) announced today that they have entered into a definitive merger agreement under which Transocean will acquire. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Based on aggregate information from My MarketBeat watchlists, some companies that other Transocean investors own include CA (CA), Endologix (ELGX), BlackRock (BLK), Chipotle Mexican Grill (CMG), Hawkins (HWKN), Aegean Marine Petroleum Network (ANW), Athabasca Oil (ATH), Micron Technology (MU), Gran Tierra Energy (GTE) and Och-Ziff Capital Management Group (OZM). Identify stocks that meet your criteria using seven unique stock screeners. STEINHAUSEN, Switzerland, May 03, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $99 million, $0.16 per diluted share, for. This situation forced Seadrill to suspend its dividend, while Transocean (RIG 0.86%) and Ensco slashed their shareholder payouts by 80%. International Mexico S. de R.L. Transocean Ltd.'s (NYSE:RIG) Intrinsic Value Is Potentially 45% Above Its Share Price, Transocean Ltd. Date of report (date of earliest event reported): February 15, 2023 . These contracts, worth a combined $1.24 billion, span multiple years. It takes the consensus sales estimate for the current fiscal year (F1) divided by the sales for the last completed fiscal year (F0) (actual if reported, the consensus if not). Less than 1 means its liabilities exceed its short-term assets (cash, inventory, receivables, etc.). Export data to Excel for your own analysis. Announces Pricing of $1.175 Billion of Senior Secured Notes due 2030. Tuesday's additional top analyst upgrades and downgrades were on Anheuser-Busch InBev, Citigroup, Discover Financial Services, Edison International, Goldman Sachs, Morgan Stanley, NextEra Energy, Tuesday's additional top analyst upgrades and downgrades included Cracker Barrel, Farfetch, Intel, Kodiak Sciences, Pinterest, Snowflake, Teladoc and more. Grand Cayman, Cayman. -0.02 (-0.27%) Insiders that own company stock include David A Tonnel, Edward R Muller, Frederik Wilhelm Mohn, Jack Sinclair, Keelan Adamson, Perestroika, Saint Victor Diane De, Vanessa C L Chang and W R Jr Stephens. The company's mobile offshore drilling. Transocean has a P/B Ratio of 0.51. The following companies are subsidiares of Transocean: 15375 Memorial Corporation, Agon Shipping Inc., Aguas Profundas Limitada, AngoSantaFe - Prestacao de Servicos Petroliferos Limitada, Angola Deepwater Drilling Company (Offshore Services) Ltd, Arcade Drilling AS, Asie Sonat Offshore Sdn. Schlumberger Ltd. agreed to combine its offshore contract-drilling operations with Transocean Offshore Inc. in a $3.26 billion stock transaction that creates the world's largest offshore-energy . Transocean intends to fund the cash portion of the transaction consideration through a combination of cash on hand and fully committed financing provided by Citi. Bobby Willig, Meg Guerin-Calvert, Jay Ezrielev, David Fenichel and a Compass Lexecon team were retained by counsel for the parties to assist in an economic analysis of the merger of Transocean and GlobalSantaFe, two large oil and gas contractors. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Shares of JetBlue Airways ( JBLU -1.48%) surged by more than 5% in early trading on speculation that perhaps it could be the next . Transocean's mailing address is Turmstrasse30, Steinhausen V8, 6312. The Momentum Scorecard table also displays the values for its respective Industry along with the values and Momentum Score of its three closest peers. Increases Transocean's industry-leading contract backlog by $743 million for a combined total of $12.5 billion, at an average dayrate of $413,000; Expected annual cost synergies of approximately. Like most ratios, this number will vary from industry to industry. The company's average rating score is 2.50, and is based on 4 buy ratings, 4 hold ratings, and no sell ratings. Based upon closing prices for each. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. As Transocean has already committed to voting its approximately 21.3 million common units in favor of the merger, a vote in favor of the merger by approximately 9.9 million (or approximately 50.1% . contact@marketbeat.com Transocean's stock is owned by a variety of retail and institutional investors. Zscaler, Inc Plummets, Is It Time To Buy The Dip? N.V., GlobalSantaFe Drilling Company, GlobalSantaFe Drilling Company (North Sea) Limited, GlobalSantaFe Drilling Company (Overseas) Limited, GlobalSantaFe Drilling Mexico S. de R.L. Specifically, they have bought $0.00 in company stock and sold $698,560.00 in company stock. This is useful for obvious reasons, but can also put the current day's intraday gains into better context by knowing if the recently completed trading day was up or down. See rankings and related performance below. The company was founded in 1926 and is based in Steinhausen,. Transocean Inc. 36C Dr. Roy's Drive, Bermuda. High institutional ownership can be a signal of strong market trust in this company. Delayed quotes by FIS. In this case, it's the cash flow growth that's being looked at. Growth of $10,000.00. As they say, 'price follows volume'. Theme Leveraged Finance & High Yield Bonds backing Transocean Ltd. surged across the stack today after the offshore drilling company said it had moved to resolve allegations that its efforts to stave off a bankruptcy filing had led it to default on $543 million of senior notes. The 20 day average establishes this baseline. Transocean (NYSE:RIG) Shares Gap Down to $6.75, Transocean (RIG) Incurs Wider-Than-Expected Loss in Q4, Recent 3.7% pullback isn't enough to hurt long-term Transocean (NYSE:RIG) shareholders, they're still up 91% over 1 year, Transocean (NYSE:RIG) Price Target Increased to $6.00 by Analysts at Susquehanna, Transocean (NYSE:RIG) PT Lowered to $6.00, Transocean (NYSE:RIG) Stock Price Down 12.7% Following Weak Earnings, Transocean (RIG) Q4 2022 Earnings Call Transcript, BREAKING: Tiny biotech successfully treats blindness, Transocean (RIG) Reports Q4 Loss, Lags Revenue Estimates. This includes personalizing content and advertising. It's an integral part of the Zacks Rank and a critical part in effective stock evaluation. NYSE:RIG Transocean - RIG News Today $6.85 +0.10 (+1.48%) (As of 02/27/2023 12:00 AM ET) Compare Today's Range $6.61 $7.00 50-Day Range $4.27 $7.61 52-Week Range $2.32 $7.69 Volume 15.43 million shs Average Volume 25.78 million shs Market Capitalization $4.97 billion P/E Ratio N/A This item is updated at 9 pm EST each day. 55.16% of the stock of Transocean is held by institutions. Transocean (RIG) Incurs Wider-Than-Expected Loss in Q4. Start date: 01/17/2013. Santa Fe Supraco Indonesia, PT. The merger is not subject to any financing condition. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Announces Proposed Private Offering of $500 Million of Secured Notes Due 2028, Transocean Ltd. This is a longer-term price change metric. -- Equal representation on 14-member board, chaired by Robert E. Rose. Transocean Ltd. Analyst Contact Alison Johnson Senior Manager, Investor Relations +1-713-232-7214 Media Contact Pam Easton Manager, Legal Projects and Communications +1-713-232-7647 Home News Transocean Ltd. Secures $252 Million Contract for Newbuild, Ultra-Deepwater Drillship If a stock's EPS consensus estimate is $1.10 now vs. $1.00 the week before, that will be reflected as a 10% change. The Fly team scours all sources of company news, from mainstream to cutting edge,then filters out the noise to deliver shortform stories consisting of only market moving content. Announces Pricing of $525 Million of Secured Notes Due 2028, Transocean Ltd. A D/E ratio of 1 means its debt is equivalent to its common equity. How good is it? Also, consistent with the Companys strategy of recycling less competitive rigs, Transocean will retire two of its floaters, the ultra-deepwater drillship C.R. Minnesota Steps Closer To Legalizing Cannabis: Former Gov. It is essentially the inverse of the P/E ratio. Return on Equity (or ROE) is calculated as income divided by average shareholder equity (past 12 months, including reinvested earnings). This shows the percentage of profit a company earns on its sales. Dear Community, the latest update for TransOcean 2: Rivals just set sail today! They read the articles and then traced the articles back to the article that . The new company, which will operate under the Transocean name, will combine the largest. ROE values, like other values, can vary significantly from one industry to another. The Growth Scorecard table also displays the values for its respective Industry along with the values and Growth Score of its three closest peers. Transocean stock traded at $4.52 ahead of earnings, but Tuesday's reaction took shares down to $4.41, and on Wednesday they were down another 1.2% to $4.37. A P/B of 2 means it's selling at 2 times its book value. de C.V., GlobalSantaFe Drilling Operations Inc., GlobalSantaFe Drilling Services (North Sea) Limited, GlobalSantaFe Drilling Trinidad LLC, GlobalSantaFe Drilling Venezuela C.A., GlobalSantaFe Financial Services (Luxembourg) S.a.r.l., GlobalSantaFe Group Financing Limited Liability Company, GlobalSantaFe Holding Company (North Sea) Limited, GlobalSantaFe Hungary Services Limited Liability Company, GlobalSantaFe International Drilling Corporation, GlobalSantaFe International Drilling Inc., GlobalSantaFe International Services Inc., GlobalSantaFe Nederland B.V., GlobalSantaFe Offshore Services Inc., GlobalSantaFe Operations (Mexico) LLC, GlobalSantaFe Saudi Arabia Ltd., GlobalSantaFe Services (BVI) Inc., GlobalSantaFe Services Netherlands B.V., GlobalSantaFe Servicios de Venezuela C.A., GlobalSantaFe South America LLC, GlobalSantaFe Tampico S. de R.L. To learn more, click here. * indicates the important links in the menu, After-Market: It takes the consensus estimate for the current fiscal year (F1) divided by the EPS for the last completed fiscal year (F0) (actual if reported, the consensus if not). View the best growth stocks for 2023 here. Search: Transocean Merger Rumors. The respective items are ranked and graded into five groups: A, B, C, D and F. An A is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. Cash flow itself is an important item on the income statement. Jeremy D. Thigpen has an approval rating of 60% among the company's employees. And like the P/E ratio, a lower number is typically considered 'better' than a higher number. Zacks Rank Education -- Learn more about the Zacks Rank This is a medium-term price change metric. Compare Top Brokerages Here. Cash flow can be found on the cash flow statement. Many investors prefer EV to just Market Cap as a better way to determine the value of a company. Oil giant Shell set to unveil record profits of more than 30bn as households and businesses grapple with sky-high energy bills. View RIG analyst ratings or view top-rated stocks. That means these items are added back into the net income to produce this earnings number. Transocean (RIG) is a Great Momentum Stock: Should You Buy? 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The 52 week price change is a good reference point. What Makes Transocean (RIG) a Strong Momentum Stock: Buy Now? Announces $392 Million Contract Award for Ultra-Deepwater Drillship. A higher number means the more debt a company has compared to its capital structure. Please log in to your account or sign up in order to add this asset to your watchlist. The Price to Sales ratio or P/S is calculated as price divided by sales. There are currently 4 hold ratings and 4 buy ratings for the stock. View our RIG earnings forecast. This is also referred to as the cash yield. The Zacks Equity Research reports, or ZER for short, are our in-house, independently produced research reports. Is Transocean (RIG) Outperforming Other Oils-Energy Stocks This Year? Of course, different industries will have different growth rates that are considered good. The Momentum Scorecard focuses on price and earnings momentum and indicates when the timing is right to enter a stock. Transocean (RIG) Announces $488 Million Addition to Backlog. Current Cash Flow Growth measures the percent change in the year over year Cash Flow. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. A higher number is better than a lower one as it shows how effective a company is at generating revenue from its assets. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. The EV/EBITDA ratio is a valuation multiple and is often used in addition, or as an alternative, to the P/E ratio. With 12 weeks representing a meaningful part of a year, this time period will show whether a stock has been enjoying strong investor demand, or if it's in consolidation, or distress. Top Analyst Upgrades and Downgrades: Adobe, Apple, FedEx, HCA, Kraft Heinz, Peloton, Sirius XM, Tesla, Transocean, Veeco and More Wednesday's top analyst upgrades and downgrades included Adobe,. In contrast, the net income that goes into the earnings portion of the P/E ratio does not add these in, thus artificially reducing the income and skewing the P/E ratio. are strong. Like the P/E ratio, a lower number is considered better. Minnesota's Senate Environment Climate and Legacy committee passed a measure concerning Sen. Lindsey . Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. A value greater than 1, in general, is not as good (overvalued to its growth rate). Below, we examine the compound annual growth rate CAGR for short of an investment into Transocean shares, starting with a $10,000 purchase of RIG, presented on a split-history-adjusted basis factoring in the complete Transocean stock split history. Learn more about Zacks Equity Research reports. The analyzed items go beyond simple trend analysis. A stock with a P/E ratio of 20, for example, is said to be trading at 20 times its annual earnings. Traditionally, investors would look at the stock with the lower P/E and deem it a bargain. Transocean shares have a 52-week. An industry with a larger percentage of Zacks Rank #1's and #2's will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4's and #5's. - The Fly. This is a medium-term price change metric (like the 4 week price change). the Securities Exchange Act of 1934. These two newbuilds are expected to be delivered in the third quarter of 2019 and the third quarter of 2020, respectively. Since cash can't be manipulated like earnings can, it's a preferred metric for analysts. The (F1) EPS Estimate Monthly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 4 weeks. They looked at 33 business publications from 2000 to 2010 and searched for key words relating to rumors (or rumours). The firm notes these levels are notably below the average day rates secured by Transocean, which would operate the fourth-largest overall . This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. The longer-term perspective helps smooth out short-term events. In many ways, the market's action of repricing the offshore . Momentum Style - Learn more about the Momentum Style. Bhd., R&B Falcon (U.K.) Limited, R&B Falcon B.V., R&B Falcon Deepwater (UK) Limited, R&B Falcon Drilling Co. LLC, R&B Falcon Exploration Co. LLC, R&B Falcon International Energy Services B.V., RBF Rig Corporation LLC, Ranger Insurance Limited, Reading & Bates Coal Co. LLC, SDS Offshore Limited, Safemal Drilling Sdn. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Like the earnings yield, which shows the anticipated yield (or return) on a stock based on the earnings and the price paid, the cash yield does the same, but with cash being the numerator instead of earnings. By adding our high-specification floaters to Transocean's industry-leading fleet, the combined company will have the offshore industrys largest and most technically capable fleet of ultra-deepwater and harsh environment floaters. Transocean Inc. and GlobalSantaFe Corporation said that their boards of directors have unanimously approved a definitive agreement for a merger of equals. EBITDA, as the acronym depicts, is earnings before interest, taxes, depreciation and amortization. Zacks Industry Rank Education -- Learn more about the Zacks Industry Rank. Note: there are many factors that can influence the longer-term number, not the least of which is the overall state of the economy (recession will reduce this number for example, while a recovery will inflate it), which can skew comparisons when looking out over shorter time frames. Real-time analyst ratings, insider transactions, earnings data, and more. A strong cash flow is important for covering interest payments, particularly for highly leveraged companies. A rising stock on above average volume is typically a bullish sign whereas a declining stock on above average volume is typically bearish. Transocean had a negative trailing twelve-month return on equity of 5.85% and a negative net margin of 24.12%. Top institutional shareholders include Contrarius Investment Management Ltd (4.30%), Van ECK Associates Corp (3.48%), Morgan Stanley (2.54%), Dimensional Fund Advisors LP (2.32%), Two Sigma Investments LP (2.05%) and Two Sigma Advisers LP (1.91%). Search: Csx Merger Rumors. Their RIG share price forecasts range from $3.30 to $10.00. The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt. Transocean ( NYSE: RIG) released its fleet status on April 28, 2021. The 20 Day Average Volume is the average daily trading volume over the last 20 trading days. But note, different industries have different margin rates that are considered good. In general, the lower the ratio is the better. Transocean denies R&B merger speculation Talk is flying in the offshore drilling rig industry of a possible merger between two major international players - Transocean of Norway and. It measures a company's ability to pay short-term obligations. And, of course, the 4 week change helps put the 1 week change into context. On average, they predict the company's stock price to reach $5.91 in the next year. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. The proposed $18 billion merger of offshore oil and gas drilling contractors Transocean Inc <RIG.N> and GlobalSantaFe Corp <GSF.N> may spark consolidation, but opinion is split on whether the link . Enterprise Value / Earnings Before Interest, Taxes, Depreciation and Amortization is a valuation metric used to measure a company's value and is helpful in comparing one stock to another. These returns cover a period from January 1, 1988 through January 2, 2023. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service. It's another great way to determine whether a company is undervalued or overvalued with the denominator being cash flow. This is the Air Japan corporate website, where you can view Corporate Information, Flight Routes, Safety/Flight Information, and CSR Information, etc Cause: In accordance with the terms of the merger agreement, each outstanding ordinary share of Transocean immediately prior to the effective time of the merger was reclassified into (1) 0 BP and Transocean . Seeing how a company makes use of its equity, and the return generated on it, is an important measure to look at. A 'good' number would usually fall within the range of 1.5 to 3. Wednesday's top analyst upgrades and downgrades included Amazon.com, Boeing, Carlyle, Frontline, Olin, Perrigo, Rocket Companies, Starwood Property Trust, Transocean andWW. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Transocean does not currently pay a dividend. The 4 Week Price Change displays the percentage price change for the most recently completed 4 weeks (20 trading days). In short, this is how much a company is worth. Earnings estimate revisions are the most important factor influencing stocks prices. September 19, 2007. What is Transocean's stock price forecast for 2023? This suggests that the stock has a possible downside of 21.3%. Islands KY1-1003 +1 (345) 745-4505 . Both floaters are currently stacked. Pursuant to the terms of the Merger Agreement, a business combination between CLAQ and Nauticus was effected through the merger of Merger . The Historical Cash Flow Growth is the longer-term (3-5 year annualized) growth rate of the cash flow change. This ratio essentially compares the P/E to its growth rate, thus, for many, telling a more complete story than just the P/E ratio alone. Transocean trades on the New York Stock Exchange (NYSE) under the ticker symbol "RIG.". All rights reserved. Transocean is an existing investor in Nauticus Robotics and is investing in the PIPE. de C.V., GlobalSantaFe Techserv (North Sea) Limited, GlobalSantaFe U.S. Holdings Inc., Indigo Drilling Limited, Inteliwell JV GP Limited, Inteliwell JV LP, Kalambo Operations Inc., OCR Falklands Drilling Inc., OR Norge Operations Inc., Ocean Rig, Ocean Rig 1 Inc, Ocean Rig 2 Inc., Ocean Rig Canada Inc., Ocean Rig Cuanza Operations Inc., Ocean Rig Cubango Operations Inc., Ocean Rig Deepwater Drilling Limited, Ocean Rig Investments Inc., Ocean Rig Management Inc., Ocean Rig Operations Inc., Ocean Rig UDW Inc., Ocean Rig UDW LLC, Offshore Ghana Transocean Limited, Offshore Rig Operations AS, Olympia Rig Angola Holding S.A., Olympia Rig Angola Limitada, Orion Holdings (Cayman) Limited, Orion RigCo (Cayman) Limited, P.T. The Cash/Price ratio is calculated as cash and marketable securities per share divided by the stock price. The cause of this is impossible to tell Transocean will pay approximately $2 . Seward & Kissel LLP is acting as legal advisor to Ocean Rig with respect to U.S. law. Zacks Style Scores Education - Learn more about the Zacks Style Scores. Further, we are confident that we can realize meaningful synergies through our OEM agreements, our overall approach to maintenance and our fleet-wide insurance coverage, among other opportunities., Thigpen concluded, Including the five rigs under construction, and considering the two additional rigs that we have recently decided to recycle, Transoceans pro forma fleet will be comprised of 57 floaters, including many of the most technically capable ultra-deepwater floaters, and harsh environment semisubmersibles in the industry. It also anticipates an adjusted contract drilling revenue of $635 million and an approximate 15% rise . The (F1) EPS Estimate Weekly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last week. The X Industry values displayed in this column are the median values for all of the stocks within their respective industry. Multichannel News covers the cable television and telecommunications business focusing on finance, technology, broadband, and government activities for the worldwide multichannel industries. Visit Performance Disclosure for information about the performance numbers displayed above. By PATRICK TOOHER, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:50, 28 January 2023 | UPDATED: 21:50, 28 January 2023 Oil giant Shell is set to unveil record profits of more than 30 billion as households and businesses grapple with sky-high energy bills. A D/E ratio of 2 might be par for the course in one industry, while 0.50 would be considered normal for another. Within the Finance Sector, it would fall into the M Industry of Banks & Thrifts. Bhd., Songa Offshore Management Limited, Songa Offshore Pte. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. GRAND CAYMAN, Cayman Islands, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), ("Ocean Rig" or the "Company"), an international contractor of offshore deepwater drilling. The merger pairs Sedco Forex's 44 offshore drilling rigs with Transocean Offshore's 31 rigs, for combined operations in the North Sea, the Gulf of Mexico, Southeast Asia, West Africa and Brazil.